Devil's Third Rights Back in the Hands of Itagaki, Valhalla Game Studios

Unable to find a buyer, THQ has returned the rights to Devil's Third to creative lead Tomonobu Itagaki and his studio, Valhalla Game Studios.

The confirmation comes from Eurogamer.

Devil's Third is Mr. Itagaki's first game under the Valhalla banner, a studio he started up after leaving Team Ninja and Tecmo.

In a recent Famitsu interview, Mr. Itagaki thanked THQ leadership for trying to make things work.

"We were anguished and they were really kind to us. Mr. Danny Bilson was searching for a way to work together until the very end. I do appreciate him and THQ managers that signed the transfer contract."

Mr. Itagaki went on to explain why Devil's Third wasn't a great fit for THQ at this point in time.

"Devil's Third development is in its final stage now, and is most expensive in this term. In the West, we need to spend a great deal for advertisements – as much as development cost – to sell a lot. But it wasn't fit for [THQ's] mid-term plan."

The game has been in development for about three years and is currently without a release date.